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Day: May 29, 2012
May 292012
Yen Gains on Woes of Europe, Flat vs. Dollar
The Japanese yen gained against most major currencies today as endless woes of European countries spurred demand for safer currencies. The yen was flat versus the US dollar, though, as the greenback is also considered to be a safe haven. Europe’s debt story has plagued markets for several years already and it has done a great damage to traders’ willingness to risk. Previously, gold was a favorable asset among investors, who […]
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May 292012
Europe Drives Loonie to Monthly Loss
The Canadian dollar fell today, heading to a monthly loss against the US dollar and a second straight monthly drop versus the Japanese yen, as the crisis in Europe eroded demand for currencies related to growth. Unsurprisingly, Canada’s currency managed to outperform the euro. The European sovereign-debt problems is spreading and it does not look like European leaders have a solid plan to contain the crisis. Signs that the fast-growing Chinese economy is slowing also […]
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May 292012
Australian Dollar a Little Higher Today
Australian dollar is maintaining gains today, heading a little bit higher as some risk appetite returns to the markets. Also helping the Aussie is the fact that gold prices are gaining again. With a little optimism, and help from commodities, Aussie is gaining ground against the major currencies. Risk appetite has been improved by hopes that Greece will put in a pro-bailout government next month. Even though […]
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May 292012
US Dollar Looks to End May on a Strong Note
US dollar looks to end May with relative strength, thanks in large part to safe haven demand. Even though the euro is inching higher right now, on the month the US dollar is likely to log gains. Greenback is still higher against the yen and the pound, and the euro’s gains are by no means certain today. Euro is managing to eke out small gains right now, overcoming earlier losses. […]
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May 292012
Euro Declines as Fears Grow
The euro extended its decline today amid mounting concerns about the sovereign-debt crisis in Europe and the ability of the eurozone to keep its integrity, caused by uncertainty about the June elections in Greece and signs that the crisis is spreading. Spain is the second major worry, following Greece, for European investors, especially after its banks and regions lost access to capital markets. The government is continuously reassure that the country does not need […]
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May 292012
EUR/USD Declines as Spanish Banks Need Bailout
EUR/USD fell today as the European Central Bank said it does not consider a bailout for Spanish bank, which have problems accessing markets. Losses were limited as polls showed that Greek pro-bailout party are gaining votes ahead the June elections in Greece. In the United States, the housing market is slowly improving, but consumer sentiment unexpectedly dipped. S&P/Case-Shiller home price index fell 2.6% in March, year-on-year, […]
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May 292012
Franc Rebounds After Weber’s Comments
The Swiss franc advanced today, paring yesterday’s losses against the US dollar, as former Bundesbank President Axel Weber hinted that the currency may be appreciating amid the escalating crisis in Europe. Weber said about Thomas Jordan’s ability to maintain the cap of the franc against the euro: As solid and steady as he is as a central banker, so is the Swiss franc. I wake up in the morning and if somebody asks me where the Swiss […]
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